Removal of five unit building from rent-stabilization

My wife and I recently bought an eight unit building with all rent-stabilized units. We plan on combining four of the units for our personal, primary residence thus leaving the building with five total units.

Given there will be less than six units, would the remaining units still be subject to rent-stabilization? If so, is there a legal way to remove them given the building no longer falls under the 1974 regulations? Can anyone recommend an attorney who has managed this process?

Guest User | 6 years ago

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eman134 | 6 years ago

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remember that if any of the stabilized tenants are over 62 you will have to relocate them to equivalent housing at the same price in the proximate neighborhood

yudashasom | 6 years ago

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I think you are underestimating this.

These days it’s tough to be successful with owner use case, especially on the scale you are seeking. 1 or 2 units, you can probably pull it off, but displacing 3 or 4 tenants you will have a tough time. It’s going to be very, very costly, lengthy, and stressful and involved.

Are there any senior citizens or disabled tenants?

You can’t deregulate the occupied units unless these tenants have high income, don’t pay rent, or are a nuisance and it will be nearly impossible to do that.

You shouldn’t be posting this under your real name because it can come back to hurt you later on.

stickerhappy | 6 years ago

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It doesn’t matter if you combine and thus bring the building under 6 units, the non-combined apartments all remain stabilized.
Those other apartments remain under all the original rent stabilization rules and regulations.
This approach will not work.
However if you combine some of your other RS apartments, you get to set a “first rent” which can help you deregulate them.
But all this could change June 15 when the new laws are adopted which aim to make deregulation tougher.